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Pin to quick picksTullow Oil Share News (TLW)

Share Price Information for Tullow Oil (TLW)

London Stock Exchange
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Share Price: 39.14
Bid: 38.64
Ask: 38.80
Change: -0.34 (-0.86%)
Spread: 0.16 (0.414%)
Open: 39.18
High: 40.32
Low: 38.28
Prev. Close: 39.48
TLW Live PriceLast checked at -

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Jefferies downgrades Tullow Oil, slashes price target

Wed, 12th Oct 2022 11:18

(Sharecast News) - Jefferies downgraded Tullow Oil on Wednesday to 'hold' from 'buy' and cut the price target to 48p from 77p.

The bank said Tullow's interim results brought back into its investment view what it sees as the limitations of Ghana production improvement at the Jubilee field and TEN field.

"This, alongside more limited deleverage than (North Sea) peers and a proposed Capricorn Energy merger that has been withdrawn, means we move Tullow to a core NAV-based price target method of 48p a share and downgrade to hold.

"In simple terms, we view the circa $200m free cash flow that Tullow estimates in 2022 at $95/barrel oil price as an approximate annual limit of deleverage for the company."

Jefferies said that because capex must continue at least at current levels to maintain drilling intensity, it does not see a step change in production either way and Tullow has no immediate exposure to the bank's increased gas price assumptions.

At 1255 BST, the shares were down 5.3% at 38.92p.

More News
14 Sep 2022 07:21

Tullow Oil H1 gross profits surge as sales revenues grow

(Sharecast News) - Exploration and production firm Tullow Oil said on Wednesday that sales revenues and gross profits had grown in the six months ended 30 June as the group's turnaround gained momentum throughout the period.

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14 Sep 2022 07:17

Tullow Oil sticks to Capricorn merger plans, $200 mln cashflow guidance

LONDON, Sept 14 (Reuters) - Africa-focused Tullow Oil said on Wednesday it would stick to the current form of its plan all-share merger plan with Capricorn Energy, shrugging off criticism from some Capricorn investors who say the deal undervalues the company.

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14 Sep 2022 07:05

Tullow Oil sticks to Capricorn merger plans, $200 mln FY cashflow guidance

LONDON, Sept 14 (Reuters) - Africa-focused Tullow Oil said on Wednesday it would stick to the current form of its plan all-share merger plan with Capricorn Energy, shrugging off criticism from some Capricorn investors who say the deal undervalues the company.

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13 Sep 2022 16:22

Capricorn shareholder Schroders against Tullow merger in current form

LONDON, Sept 13 (Reuters) - Capricorn Energy shareholder Schroders would vote against the oil and gas producer's planned merger with Tullow Oil in its current form, the investment company's head of UK and European Mid and Small Caps told Reuters on Tuesday.

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12 Sep 2022 15:25

IN BRIEF: Tullow to delist from Euronext Dublin to help reduce costs

Tullow Oil PLC - London-based oil and gas exploration company - Applies to delist its ordinary shares of 10 pence each from Euronext Dublin, Ireland's main stock exchange. Tullow will remain listed on the London Stock Exchange and the Ghana Stock Exchange. The delisting from Ireland will not affect those listings. Tullow says "the delisting will simplify compliance and regulatory obligations" and aligns with an "overall objective to reduce central costs and its purpose." Expected to take effect on October 10.

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7 Sep 2022 15:53

UK earnings, trading statements calendar - next 7 days

Thursday 8 September 
Arecor Therapeutics PLCHalf Year Results
Cairn Homes PLCHalf Year Results
Chaarat Gold Holdings LtdHalf Year Results
Curtis Banks Group PLCHalf Year Results
Darktrace PLCFull Year Results
Destiny Pharma Holdings PLCHalf Year Results
Duke Royalty LtdFull Year Results
Emis Group PLCHalf Year Results
Energean PLCHalf Year Results
Funding Circle Holdings PLCHalf Year Results
Genus PLCFull Year Results
International Public Partnerships LtdHalf Year Results
Melrose Industries PLCHalf Year Results
Mpac Group PLCHalf Year Results
M Winkworth PLCHalf Year Results
Oakley Capital Investments LtdHalf Year Results
Open Orphan PLCHalf Year Results
Restaurant Group PLCHalf Year Results
Safestore Holdings PLCQ3 Results
Severfield PLCFull Year Results
Shield Therapeutics PLCHalf Year Results
SourceBio International PLCHalf Year Results
Spire Healthcare Group PLCHalf Year Results
Sylvania Platinum LtdFull Year Results
Vistry Group PLCHalf Year Results
Friday 9 September 
Computacenter PLCHalf Year Results
Creo Medical Group PLCHalf Year Results
Mid Wynd International Investment Trust PLCFull Year Results
Monday 12 September 
ABCAM PLCHalf Year Results
Arcontech Group PLCFull Year Results
Associated British Foods PLCFull Year Results
Greencoat Renewables PLCHalf Year Results
HgCapital Trust PLCHalf Year Results
Kape Technologies PLCHalf Year Results
Made Tech Group PLCFull Year Results
MP Evans Group PLCHalf Year Results
SigmaRoc PLCHalf Year Results
Tirupati Graphite PLCFull Year Results
Tuesday 13 September 
accesso Technology Group PLCHalf Year Results
Churchill China PLCHalf Year Results
Corero Network Security PLCHalf Year Results
Engage XR Holdings PLCHalf Year Results
Facilities by ADF PLCHalf Year Results
Fevertree Drinks PLCHalf Year Results
Futura Medical PLCHalf Year Results
Gateley Holdings PLCFull Year Results
Harworth Group PLCHalf Year Results
HeiQ PLCHalf Year Results
JTC PLCHalf Year Results
Mattioli Woods PLCFull Year Results
Ocado Group PLCTrading Statement
Oxford Nanopore Technologies PLCHalf Year Results
Petra Diamonds LtdFull Year Results
Property Franchise Group PLCHalf Year Results
RBG Holdings PLCHalf Year Results
Smart Metering Systems PLCHalf Year Results
Team17 Group PLCHalf Year Results
Trustpilot Group PLCHalf Year Results
VH Global Sustainable Energy Opportunities PLCHalf Year Results
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Advanced Medical Solutions Group PLCHalf Year Results
BioPharma Credit PLCHalf Year Results
Blackbird PLCHalf Year Results
Central Asia Metals PLCHalf Year Results
Diurnal Group PLCHalf Year Results
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Epwin Group PLCHalf Year Results
Glenveagh Properties PLCHalf Year Results
ITM Power PLCFull Year Results
Niox Group PLCHalf Year Results
Pan African Resources PLCFull Year Results
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Redrow PLCFull Year Results
Ricardo PLCFull Year Results
STM Group PLCHalf Year Results
Artisanal Spirits Co PLCHalf Year Results
Tullow Oil PLCHalf Year Results
  
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6 Sep 2022 12:03

LONDON MARKET MIDDAY: FTSE 100 shades green; US returns from holiday

(Alliance News) - The FTSE 100 was being boosted by housebuilders at midday on Tuesday, while a raft of UK consumer stocks were enjoying a rally on the hopes that the new prime minister, Liz Truss, will help soften the blow of surging energy bills.

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6 Sep 2022 11:33

Capricorn explores other deals as Tullow merger faces backlash

Sept 6 (Reuters) - Capricorn Energy, whose planned merger with rival Tullow Oil has faced investor backlash, said on Tuesday it was exploring alternative deals after unnamed parties expressed interest.

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6 Sep 2022 09:43

TOP NEWS: Capricorn Energy considering alternatives to Tullow merger

(Alliance News) - Capricorn Energy PLC on Tuesday said it is considering alternatives to its previously announced merger with Tullow Oil PLC, as it posted a narrowed loss in the first half of 2022.

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31 Aug 2022 17:04

LONDON MARKET CLOSE: Oil price drop drags FTSE on hit to energy stocks

(Alliance News) - Energy firms were struggling in London on Wednesday as oil prices came under pressure, sending the FTSE 100 lower.

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31 Aug 2022 11:58

LONDON MARKET MIDDAY: Mood turns risk-off after hot eurozone inflation

(Alliance News) - European stock markets turned decisively lower on Wednesday after inflation in the eurozone accelerated by more-than-expected, raising expectations for further aggressive interest rate hikes by central banks.

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26 Aug 2022 14:20

Kenmare names former Tullow CFO Tom Hickey as new financial director

(Alliance News) - Kenmare Resources PLC on Thursday named former Tullow Oil PLC chief financial officer Tom Hickey as its new financial director.

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23 Aug 2022 17:21

REPEAT: Stocks fall on poor data; weak US PMI hits dollar

(Alliance News) - Stocks in London closed in the red on Tuesday after another day of poor economic data from across the globe.

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23 Aug 2022 17:17

LONDON MARKET CLOSE: Stocks fall on poor data; weak US PMI hits dollar

(Alliance News) - Stocks in London closed in the red on Tuesday after another day of poor economic data from across the globe.

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15 Aug 2022 14:27

Key investor Madison Ave says Capricorn worth more than planned Tullow deal

LONDON, Aug 15 (Reuters) - Major Capricorn Energy investor Madison Avenue sees Capricorn's value at a minimum of 300 pence per share, above its value in a planned merger with Tullow Oil, adding its voice to criticism of the deal by some Capricorn investors.

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